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Floods to swamp Suncorp for up to $250m

Liam WalshReporter
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Insurer Suncorp estimates the damage bill for recent devastating floods could rise to $250 million, higher than estimates from its rival, IAG.

The prediction by Brisbane-based Suncorp, whose brands include AAMI and GIO, means the insurer’s internal budgets for natural disasters will also likely blow out for the year beyond its $950 million allowance.

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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/floods-to-swamp-suncorp-for-up-to-250m-20210331-p57fhf